Personal Car Lease Information

brihutchie

Hi,

first post here so go easy. I've been looking into a personal car lease.This is just as it says for me, personal. It is nothing to do with business.

I'm wondering does anybody have any experiences with car leasing? I've had quotes, but some of them require a letter from work, to say I'm entitled to get fuel expenses back. Even if it's only once for a course etc. Is this the norm? Does it have any tax implications?

Any help would be gratefully received

Thanks

Brian.

albionrovers

LingsCars

Like you say, it's personal. What's all this about work and tax?

Hintza

Letter from work? No

You will just need to pass a credit check.

If leasing choose the deal and not the car ie if you want a BMW a lease will be expensive, choose a car that is not selling well or due for a replacement model if you want a good price.

brihutchie

The company have said they will require a letter, stating that if i done any traveling for work, whether it be for a course etc, I would be reimbursed the fuel! Something to do with the finance company. A few of the lease companies have said this. I'm confused to why, I don't want to get stuck with tax implications!

albionrovers

Sounds like you are being over charged to get partially reimbursed. No-one just gives money away. Is this a new lease con?

My personal lease as follows:-
Choose a car from website, as per Hintza's advice above.
Pass credit check.
Take delivery of car and drive it exactly as if it were your own, as per manufacturer's warranty agreement.
Give it back at the end of lease and pay any charges that you may incurr, eg. breach of mileage allowance, dents, dings outwith the BVRLA guidance.
Repeat the cycle.

Can you post a link to the deal so I can have a read?

Hintza

Your clue is in "personal lease" and assuming you have the correct insurance then really it is none of their business what you do with it.

I think I would be looking elsewhere.

brihutchie

albionrovers wrote: »

Sounds like you are being over charged to get partially reimbursed. No-one just gives money away. Is this a new lease con?

My personal lease as follows:-
Choose a car from website, as per Hintza's advice above.
Pass credit check.
Take delivery of car and drive it exactly as if it were your own, as per manufacturer's warranty agreement.
Give it back at the end of lease and pay any charges that you may incurr, eg. breach of mileage allowance, dents, dings outwith the BVRLA guidance.
Repeat the cycle.

Can you post a link to the deal so I can have a read?

fleetprices.co.uk/personal-lease-cars

This is the company, they seem reputable. I come across them through parkers.co.uk. Im waiting on details to be sent in the post, but over the phone the gent said I would require a letter from work to say i can get reimbursed for fuel allowances. He said it is possible to do it without this but would be alot more expensive!!

brihutchie

@Hintza, can I ask who your lease is with please?

disco.stu

Sounds like the broker (they are not a leasing company, simply an agent) is trying to pass you off as a business user to get a better deal out of the manufacturer or finance company.

Most of the brokers actually get the finance from the manufacturer's own finance company, so check directly with a dealer to see how they compare.

albionrovers

Clicked a few deals at random. They want 6 payments up-front in all the deals I viewed.

Make sure you price whe whole deal and don't just get starry-eyed by the monthly payment.

Personally, I avoid any 6+ websites because I think it's sneaky and designed to trick.

Hintza

brihutchie wrote: »

@Hintza, can I ask who your lease is with please?

I don't lease just now, the first company I can't remember but they were very good.

The second was Purple Contracts and I wouldn't recommend them, they went bust and phoenixed under the same/similar name and I had a small dispute (VED) that was never sorted.

Ling is good that is who I put MIL with but not the cheapest, but prices are OK.